Especially after a crisis like COVID-19, resilience is crucial for people, countries and companies. This is pointed out by FM Global, an industrial property insurance company whose business model is based on protecting property through risk analysis and minimization. But what does this mean for companies and organizations? And what does GetMyInvoices have to do with it?
Basically, countries that… FM Global Resilience Index 2020 are positioned high up and have a good basis for post-pandemic recovery, according to FM Global. These countries with high business environment resilience include Norway, Switzerland, Denmark, Germany, Sweden, Finland, Luxembourg, Austria, and the central and eastern United States. But even in these countries, every single company is required to build and expand resilience.
First steps towards resilience
Entrepreneurial resilience describes the ability of a company to successfully cope with external shocks or upheavals in social, economic or political conditions and to adapt to the new conditions. This can be specifically promoted. One component is the constant observation of market trends, technological developments, social and political changes, etc. Entrepreneurs need time for this, among other things.
Software like GetMyInvoices can provide you with this. Our invoice management solution automatically retrieves invoices and other documents from thousands of sources, collects them in one place in the cloud and also automatically transfers them to the accounting software, to the tax advisor or to other applications. This not only saves users money Up to 80 percent work in preparatory accounting , but the processing time for invoices is significantly shortened. All receipts – and information – are available almost in real time where they are needed. This helps with further steps to promote resilience. There are also automated solutions for detailed questions about the company’s financial situation. So answered FINUX Questions about liquidity before they are asked.
To address these risks proactively and in a solution-oriented manner, companies also need a progressive culture and employees who can cope with the increasing demands of volatility, uncertainty, complexity and ambiguity - i.e. the VUCA environment. They expect to work with future-oriented solutions. For example, none of these professionals want to waste valuable time and energy logging into online portals and searching for invoices, let alone printing them out or typing out items. Practical examples show that such change works and strengthens resilience.
Make targeted use of opportunities
An example is DATEV eG. she is according to own information grew by 4.3 percent in the first six months of the 2020 financial year compared to the same period last year. During the crisis, DATEV was able to react very quickly and create appropriate information offerings and solutions because it recognized early on that the ability to change and react through digital transformation has long been a key success factor for companies. That’s why she initiated a transformation process some time ago, which includes processes, methods and the organization as well as a change in the corporate culture. “With the Corona experience, we can now say that the measures taken as part of our transformation not only work, but have increased our crisis resilience,” said Dr. Robert Mayr, CEO of DATEV eG.
This shows that those who rely on resilience are better prepared for crises. GetMyInvoices supports this by providing, among other things, an up-to-date overview of your own accounting at any time with just a few mouse clicks, inspiring talented employees and freeing up time - time to develop good strategies in which diversification and sustainability also play a role should play. But that and how invoice management can contribute to this is another story . Today you should remember: The Corona crisis is not yet over and the next crisis or change will be around the corner sooner or later.
So take advantage of your opportunities and prepare yourself – with GetMyInvoices!
